The hopes of an armistice in the trade war between the US and China are rekindled and the stock exchanges take advantage of it, even if the European race slows down in the final stages. Continental stocks close below session highs, while Wall Street, after a rocket opening, is now moving more cautiously. In summary: Milano +0,98%; Frankfurt +1,49%; Paris +1,35%; Madrid +0,87%; Zurich +1,74%. London +1,28%. Technological and industrial are doing well in New York, initially galvanized by a tweet from Donald Trump: “Very productive talks underway with China! Watch out for some important announcements!”. According to the Bloomberg agency, China is preparing to reduce its tariffs on cars imported from the US from 40% to 15%. A brightening arrived yesterday, in the final part of the US session, allowing for a recovery.
For Europe, on the other hand, it is a rebound, which however rests on still slippery ground in other points, given that France, after Italy, seems intent on not respecting the 2019 deficit-GDP ratio agreed with Brussels (which will evaluate maneuver in spring), while Theresa May is on a pilgrimage on the continent to find an honorable way out of the Brexit maze, but in Berlin it has already received the first no to a reopening of negotiations. On the other hand, the Italian premier Giuseppe Conte, accompanied by minister Giovanni Tria, will meet the president of the EU Commission Jean Claude Juncker in Brussels tomorrow, but Macron's mea culpa and the economic measures announced by the French to appease internal protests, strengthen in Belpaese, the party of those who want to give little. Many open games that make up a chessboard that the ECB will also have to take into account in the meeting that begins tomorrow and ends on Thursday. There is great anticipation for the tone that the Central Bank will use and for the subsequent press conference by Governor Mario Draghi.
In the meantime, bonds remain unchanged: the yield on the 10-year BTP rises slightly to 3,12% and the spread with the Bund closing at 287.90 up 0,91% on yesterday.
THEeuro it weakens against the main currencies and the exchange rate with the dollar is around 1,132. Pound sterling is weak, moving around 1,25 against the greenback.
Well the Petroleum: Brent +1,48%, 60,84 dollars a barrel. stable thegold around 1244 dollars an ounce.
In Piazza Affari the first class is Prysmian, +6,15%, which yesterday fell to its lowest since January 2015. Analysts positively estimate the confirmation of the 2018 targets and explain that the current valuation of the shares implies a "too pessimistic" view on the group's prospects.
The good performance of American technology promotes purchases on stm +3,23%. Well Telecom, +2,99%, again in the middle of the challenge between Vivendi and Elliott. The French shareholder, who has a stake of more than 5%, wrote to the board "to push him to convene a meeting as soon as possible to appoint the new auditors, revoke five of the ten members of the Board attributable to the Elliott list, in particular way those who have been involved in governance issues, and propose the appointment of five new directors”. On 6 December, Tim's board did not convene a meeting to appoint the new auditors and this, according to Vivendi, "goes against all governance rules and is a source of disorganisation".
fca, +2,61%, closed a session at full speed in the wake of the tariff issue. Among utilities, A2a shines +2,94%.
Banks are opposed: Bpm bank earns 2,54% and is rewarded after selecting the consortium made up of Credito Fondiario and Elliott for the sale of a portfolio of 7,8 billion Npl. And out of the main basket it stands out Carige + 5,88%.
Bad instead Bper, -2,12%, worst blue chip of the session, while Carlo Cimbri, CEO of Unipol (-0,71%), reiterated that the Modenese bank "is one of the possible recipients interested in the purchase of Unipol Banca". Below Unicredit -1%.
Minus sign for General Bank -1,19%%. In fashion the highest toll on the Ftse Mib is that of Ferragamo, -1,5%, while outside the main price list it sinks Ovs -9,93% (-80% since the beginning of the year), which reaches historic lows also due to doubts about the third quarter accounts which will be published on Thursday evening.
